Traders chopped at JP Morgan and MF Global

Energy trading jobs at JP Morgan in London will be axed, following the takeover of Sempra Commodities’ European energy business, according to this article in the Evening Standard.

The news came at the same time as eight out of nine oil swaps brokers resigned from MF Global, after its new chief executive Jon Corzine described the company’s performance as “completely unacceptable,” and closed the oil swaps desk in Singapore.